What's Holding You Back?: Ten Bold Steps That Define Gutsy Leaders

Chapter 9. PRINCIPLE VIII: Exploit Inflection Points

Significant shifts in the technology or the consumer habits and practices underpinning your industry are often referred to as inflection points. They are very important because they can cause the existing products or services in the industry to be rendered inferior, out-of-date, or old fashioned. To take advantage of inflection points and to keep from becoming obsolete, you must either replace your current offerings with up-to-date new products or modify your existing products. There are many examples of the importance of inflection points. Let's review a few.

In the 1990s, a major inflection point in the photography industry was the emergence of digital photography. It was becoming apparent ...